The deal, which is set to be completed in Q4 2015, sees FutureAdvisor brought into BlackRock’s Solutions arm – the firm’s investment and risk management platform.
Initially only available to US-based investors, BlackRock declared its intention to open FutureAdvisor to global investors in the future.
The offering will enable advisers to utilise leveraging technology in order to provide clients with increased insight into their portfolios, such as tax efficiency and asset distribution, and access to BlackRock’s multi-asset model portfolio range.
Alongside financial advisers, the firm’s target consumer base spans financial institutions including banks, insurers, large and small broker-dealers.
“As demand for digital wealth management grows, we believe that our combined offering will accelerate our partner firms’ abilities to serve the mass affluent in a convenient, scalable way,” said Tom Fortin, BlackRock’s head of retail technology.
